Baytex Energy (NYSE:BTE) Upgraded at Zacks Research

Baytex Energy (NYSE:BTE) (TSE:BTE) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other equities analysts also recently commented on BTE. TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a research report on Monday, August 3rd. Royal Bank Of Canada reissued a “sector perform” rating on shares of Baytex Energy in a report on Monday, May 11th. Weiss Ratings upgraded Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Baytex Energy in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Baytex Energy has a consensus rating of “Hold”.

Baytex Energy Stock Down 0.4%

Shares of BTE opened at $4.80 on Thursday. Baytex Energy has a 52 week low of $2.02 and a 52 week high of $5.36. The firm has a market cap of $3.35 billion, a P/E ratio of -7.16 and a beta of 0.39. The firm’s 50-day simple moving average is $4.21 and its 200 day simple moving average is $4.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 2.82.

Baytex Energy (NYSE:BTE) (TSE:BTE) last released its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.09. The firm had revenue of $449.32 million for the quarter, compared to analysts’ expectations of $218.10 million. Baytex Energy had a negative net margin of 26.43% and a negative return on equity of 7.77%. On average, analysts forecast that Baytex Energy will post 0.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Baytex Energy during the 2nd quarter worth approximately $197,114,000. Arrowstreet Capital Limited Partnership raised its position in shares of Baytex Energy by 816.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 22,003,118 shares of the oil and gas producer’s stock valued at $98,381,000 after buying an additional 19,601,808 shares in the last quarter. Ninepoint Partners LP acquired a new stake in shares of Baytex Energy in the second quarter valued at approximately $68,000,000. Encompass Capital Advisors LLC bought a new stake in shares of Baytex Energy in the fourth quarter valued at approximately $45,054,000. Finally, Webs Creek Capital Management LP bought a new stake in shares of Baytex Energy in the second quarter valued at approximately $51,086,024,000. Institutional investors and hedge funds own 46.15% of the company’s stock.

Baytex Energy Company Profile

Baytex Energy Corp. is an oil & gas exploration and production company. The firm engages in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company was founded on June 3, 1993 and is headquartered in Calgary, Canada.